HomeMy WebLinkAbout93-002
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CITY OF ARDEN HILLS
RAMSEY COUNTY, MINNESOTA
RESOLUTION NO. 93-02
RESOLUTION DESIGNATING ADDITIONAL DEPOSITORIES
FOR INVESTMENT PURPOSES
WHEREAS, Resolution No. 93-01 designates the First Bank st. Paul,
N.A. as the official depository for funds of the city of Arden
Hills for calendar year 1993; and
WHEREAS, it is desirable to invest City funds at the highest
available interest rate;
NOW, THEREFORE, BE IT HEREBY RESOLVED, that effective this date,
the following banks are designated additional depositories for
the sole purpose of investing funds of the City of Arden Hills:
Minnesota Municipal Liquid Asset Fund (4M Fund)
Piper Jaffray Money Market Fund
Norwest Bank Minnesota N.A., Prime Value u.s. Government Fund
Shears on Lehman Brothers, Inc. Express Daily Dividend Fund
BE IT FURTHER RESOLVED, that the City Treasurer is authorized to
take whatever actions are necessary to make investments at the
aforesaid depositories and to ascertain that adequate security,
as required by the laws of the state of Minnesota, is furnished
by such depositories to protect the city's deposited funds
against financial loss.
ADOPTED BY THE ARDEN HILLS CITY COUNC~L THIS 4~H DAY OF JANUARY,
1993.
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Tho~~s R. Sather, Mayor
ATTEST:
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Dorothy A. Per